Turk says Fed's money spigot is back on; Embry sees gold production falling for years
Interviewed today by King World News, GoldMoney founder and GATA consultant James Turk says the Federal Reserve has resumed substantial money creation, which explains today's rebound in the stock market as well as the monetary metals. Economic conditions in the United States remain horrible, Turk says, and money printing is the only response central planners will make. An excerpt from Turk's interview is posted at the King World News blog here:
Meanwhile Sprott Asset Management's John Embry tells King World News today that gold mining production is likely to fall for a long time because even a price around $1,700 is not enough to sustain such a difficult and risky industry. An excerpt from Embry's interview is posted at the King World News blog here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.